About Leeway Heavy Oil


Westward Portfolio Company, DLM Oilfield Enterprises (“DLM”) acquired Leeway Heavy Oil (“Leeway”) on October 16, 2013. Leeway was amalgamated into DLM and more than doubled the revenue and earnings of the DLM. DLM is now one of the largest privately-held well-site maintenance companies in Northeast Alberta.

Investment Overview


  • Leeway represented Westward’s 8th acquisition in Western Canada in the past 3 years
  • With additional equity investment from Westward, DLM acquired 100% of Leeway
  • Refinanced existing debt to provide for a more flexible capital structure for growth

Outcome


  • Closed October 2013
  • Leeway provides additional customer and geographic diversification to DLM’s business
  • Actively seeking follow-on acquisitions and organic growth opportunities into new business lines which service the DLMs existing customer base